Clause 25

No futures exchange shall list or de-list any futures contract on its exchange or permit the trading of any futures contract on the futures market established or operated by the futures exchange without the prior approval of the Authority.

The Authority may grant approval for the listing or de-listing of a futures contract on a futures exchange or for the trading of any futures contract on the futures market established or operated by the futures exchange subject to such conditions or restrictions as the Authority may think fit.

A futures exchange which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.

A futures exchange which contravenes any of the conditions or restrictions imposed under subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.